A Theory of Money, Prices and the Rate of Interest, Part I. : The Missing Degree of Freedom: Commodity Money and Oligopoly in a General Equilibrium Model.

A Theory of Money, Prices and the Rate of Interest, Part I. : The Missing Degree of Freedom: Commodity Money and Oligopoly in a General Equilibrium Model.

Regular price $20.00 $20.00 Sale

It is suggested that an extra degree of freedom is needed to construct a symmetric noncooperative price game in a market with n monopolists trading in [n] goods. This calls for the introduction of an additional good which can be interpreted as a com...